Necessity Of 25 Acres, ₹5 Crore Endowment Funds For Setting Up Private Universities To Be Scrapped
· Free Press Journal
Bhopal (Madhya Pradesh): The state government plans to make a major amendment in setting up of private universities.
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In the present situation, if an organisation wishes to open a university, it should get registered under section 8 of the Societies Registration Act 1860.
It should also have 25 to 50 acres without any dispute and Rs 5 crore endowment fund. Once the organisation completes these formalities, the Houses passes a bill to establish the proposed university.
After the House passes the bill, it goes to the governor. Once it gets the governor's nod, the organisation sets up a university.
But the government plans to drop the section that necessitates 25 acres and Rs 5 crore endowment fund for setting up a university.
The government proposes to amend the act as part of ease of doing business scheme and for setting up more private universities in the state.
The government prepares to put up the proposal before the cabinet meeting on Sunday. Afterwards, it may keep the proposal before the House.
The central government has asked the state to make amendments under the ease of doing business scheme.
The government has also made the Jan Vishwas Act to ease the path to setting up private universities.
Large number of pvt parties to be ready to set up varsities
Once the government passes the proposal for the amendment of the Private Universities Act, it will be a problem because the number of private parties wishing to open universities will increase.
Until now, many private parties keep away from setting up universities because of a lack of the necessary funds and land. Once the bill sees the light of the day, many people will be ready with plans to set up universities.
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